Strong deposits
Source: Shanghai Daily |
00:00 UTC+8 February 5, 2013
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Print Edition
Print Edition
YUAN deposits in Taiwan may reach 140 billion yuan (US$22 billion) within a year after local banks in the island launch yuan business this week, a private report said. The banks can take deposits and extend loans in yuan this week at the earliest after establishing clearing accounts with the Bank of China's Taipei branch. The sources of yuan liquidity in Taiwan come from Taiwan's bilateral trade surplus with Chinese mainland, deposits held by Taiwan offshore banking units, and deposits to be transferred by Taiwan businesses in Hong Kong, DBS Bank said in a report yesterday.
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